Tonight is the night: Karl Lagerfeld will personally unveil his Olympic-themed collection at Selfridges in London. Although the items celebrate the games, don't expect any sporty Spandex or ventilated mesh. A preview of the items reveals a motorcycle jacket flecked with gold, skinny jeans splattered with gold, and sequined collars in gold, silver and bronze. Not necessarily comfortable for running a 100 meter dash, but perfect for cocktail hour in the athletes' village.

Here's a preview sketch of a garment from Nicole Richie's capsule collection for Macy's. Admittedly this is just one item, but it's cute, bohemian and slightly retro — Like Nic Rich herself. [WWD]

Divorce news has been a sales booster for Katie Holmes' fashion line, Holmes & Yang. Apparently sales are soaring, and stylist David Zyla told Fox News: "Every editor will be at the spring/summer 2013 Holmes & Yang show this September at New York Fashion Week. Katie's divorce and the masterful manner in which she handled it, is shining a light onto anything that she does at this moment." Hurray? [Vogue UK]

In this video for PETA, Elisabetta Canalis — actress, TV host, ex-girlfriend of George Clooney and Dancing With The Stars veteran — acts like a dog. [The Life Files]

YSL has a new logo, and it reads "Saint Laurent Paris." People are freaking the fuck out, because the Y is missing. Quoth one critic on Facebook: "Where is Yves? Didnt u have Y everywhere on ur merchandise?? Saint Laurent sounds more like a patisserie/cafe…" But! One astute soul points out: "You GUYS are all wrong…this was the Name when yves started his house originally, it was only once the company got sold out that they started licensing the name and eventually called it Yves Saint Laurent, but the original name was Saint Laurent ‘rive gauche' named by the Man himself!!" [The Cut, Fashionista]
Clarification: According to a rep from YSL:

The YSL logo, created by Cassandre in 1961, will remain intact and the name Yves Saint Laurent will continue to be used and represent the fashion house. The Ready-To-Wear line, originally called "Saint Laurent Rive Gauche" in 1966, will now be called "Saint Laurent". Therefore the principal change will be the RTW's name, "Saint Laurent" and the fashion house will continue to go by the name Yves Saint Laurent.

This clip, "An Available Seat," consists of pictures taken over the course of one year outside the Victoria's Secret Pink store on Broadway and Prince Street in New York City. In other words: Slouching dudes. [YouTube]

The Condé Nast College of Fashion & Design is a real thing, opening in London. [WWD]

Model and Kardashian sister Kendall Jenner is in the ad campaign for Fashion's Night Out in LA. [Refinery29, WWD]

Fooey, a store in Evanston, Illinois, is suing the Gap, claiming that the retailer started selling a t-shirt — with a paper airplane on the front and instructions on how to make a paper airplane on the back — that Fooey sold in its store in 2005. Last year, Baby Gap was accused of stealing some dude's image from Flickr. [CBS Chicago]